CASHCAT surges as Robinhood US listing lifts Robinhood Chain memecoin

CASHCAT, a meme coin on Robinhood Chain, surged about 90% in 24 hours to $0.1483, lifting its market capitalization above $150 million and driving daily trading volume up more than 250% to $109 million after Robinhood US added the token for trading. The move marks a sharp extension of the rebound from the post-launch slump that followed July's frenzy, although the token still remains below its roughly $0.22 all-time high. The listing appears to have triggered a fresh burst of speculative retail demand, but it was quickly followed by allegations of insider trading after several wallets were reported to have gone long hours before the announcement. Some analysts have warned the listing could become a near-term sell signal even as CASHCAT outperformed a largely flat broader market in which Bitcoin and Ethereum posted gains of less than 1%. The rally is unfolding against continued growth on Robinhood Chain itself. Total value locked on the network has climbed to $774 million, up 20% over the past week and about one month after the July 1 mainnet launch, while tokenized assets on the chain have reached $100 million from around $70 million in late July. Reports said established DeFi protocols, led by Morpho and Etherna, account for most of the deposits, and Robinhood's temporary gas-fee subsidy through late September remains an important factor in judging whether current activity reflects durable adoption or launch-driven incentives.